Trump Warns Extra 10% Tariff on Countries Supporting BRICS Policies
Synopsis
US President Donald Trump has stated that nations opting to ally with BRICS against American interests will be slapped with additional tariffs. On his social media website Truth Social, he posted, "Any country that…
US President Donald Trump has stated that nations opting to ally with BRICS against American interests will be slapped with additional tariffs. On his social media website Truth Social, he posted, "Any country that aligns themselves with the anti-American policies of BRICS will be hit with an additional 10% tariff. There will be no exceptions to this policy."
Trump's message followed on from BRICS members condemning US trade policies and urging drastic reforms to the way financial institutions around the world operate. The BRICS alliance — comprising Brazil, Russia, India, China, South Africa, and newer additions such as Saudi Arabia, Iran, and the UAE — convened their most recent summit at the weekend in Brazil.
BRICS Pushes Back Against Tariffs, Calls for Global Reform
During the meeting, BRICS leaders complained of escalating trade tensions. They stated that high tariffs, particularly those imposed by the US, were causing volatility in the global economy. The group's finance ministers issued a joint statement stating tariffs introduce "uncertainty" and damage global trade.
The group also seeks changes to the way the International Monetary Fund (IMF) works and the way the value of currencies is determined — suggesting a change in how money works across the globe.
Indian Prime Minister Narendra Modi and South Africa's President Cyril Ramaphosa were present in person at the summit. Russia's President Vladimir Putin participated virtually. China's President Xi Jinping didn't make an appearance, instead sending Premier Li Qiang to represent him.
Trump's Tough Talk Isn't New in This Matter
This is not the first time Trump has threatened BRICS nations. They were last year threatened with 100% tariffs if the bloc went ahead with its proposal to establish an alternative currency to rival the US dollar.
His latest warning is interpreted as another forceful move to safeguard US trading interests. But analysts argue this sort of pressure might impact relations with nations wishing to remain neutral. So far, it’s unclear how many countries will be affected by the new 10% tariff threat or how they will respond.
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At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
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